If the latest data using the best meteorological methods available suggests there’s a storm coming and one takes actions to prepare, does that qualify as panic? One of the things we’ve noticed over the years in raising flags about the risks embedded in markets is that those who question the narrative are quickly criticized and labeled as worrywarts, fear mongers, or worse. This tendency has reached a fever-pitch lately with stocks bubbling up even further and the introduction of the Coronavirus. The use of the word “panic” as a pejorative has become commonplace similar to how most use the term…
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